We analyze whether technology inducement prizes could be a useful complement to standard research grants and contracts in developing climate change mitigation technologies. We find that there are important conceptual advantages to using inducement prizes in certain circumstances. These conceptual inferences are borne out by an examination of the track record of prizes inducing research into public goods, including relevant energy technologies. However, we also find that the prizes’ successes are contingent on their proper design. We analyze how several important design elements could influence the effectiveness of a climate technology prize.
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Paper provided by Resources For the Future in its series Discussion Papers with number
dp-05-33.
References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
Macauley, Molly & Darmstadter, Joel & Fini, John & Greenberg, Joel & Maulbetsch, John & Schaal, A. Michael & Styles, Geoffrey & Vedda, James, 2000.
"Can Power from Space Compete?,"
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Stephen M. Maurer & Suzanne Scotchmer, 2003.
"Procuring Knowledge,"
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9903, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted)
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